Which of the Following Managers Is Most Likely to Report

question 37

Multiple Choice

Which of the following managers is most likely to report to the controller?

• A) accounts payable department manager
• B) cashier
• C) purchasing department manager
• D) receiving department manager

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Definitions:

Selling Price

The price at which an item or service is sold to a buyer, potentially including taxes, shipping, and other fees.

Overhead Costs

Expenses associated with running a business that are not directly tied to the production of goods or services, such as rent, utilities, and administrative costs.

Profit

The financial gain achieved when the amount of revenue gained exceeds the expenses, costs, and taxes needed to sustain the activity.

Markdown

A reduction in the selling price of goods or services, often to clear old stock or to beat competitors.